Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek


Filed under: News | Latest Business News


Barnes & Noble to Separate its Retail and Nook Businesses

The famous bookselling superstore, Barnes & Noble is to undergo a business separation soon. It will split its retail section and the Nook e-reader departments into two separate public companies by Q1 2015.

Jun 25 2014, 1:40pm CDT | by

1 Updates
Barnes & Noble to Separate its Retail and Nook Businesses

Getty Images

YouTube Videos Comments

Full Story

Barnes & Noble to Separate its Retail and Nook Businesses

Barnes & Noble is about to enter a harrowing period as an economic split takes place in the company’s accounts and ownership rights. By the first quarter of next year, the company will have eased itself into a partition of functions. 

Basically, the retail section and the Nook e-reader departments are going their separate ways. Its business and sales have taken a turn for the worst and now with the readership’s tastes having evolved further along the road a change was imminent. 

The division and bifurcation of paths is planned for the early part of 2015. Barnes & Noble has not been able to compete on a par with Amazon as regards its Nook e-reader. 

The venture has been pretty much a failure and a white elephant of sorts. And while this has been the fate of the Nook e-reader, the retail section has been a bit better off but not by much. 

The CEO of Barnes & Noble explained the conundrum the company was facing and how the heads had to finally sit down and decide once and for all how to extract the floundering organization from this enigma. So, Nook Media and Barnes & Noble Retail were formed in order to get the whole matter settled fair and square. 

Now there won’t be any more hassles. This is a change of plans indeed since in the past the decision to stick together through thick and thin was taken. But it just couldn’t work out so the inevitable had to be faced in all its bitter reality and consequences. 

“In fiscal 2014 we have taken certain actions to strengthen the Company, including the ongoing rationalization of the NOOK business, growing the College business through new contract acquisitions and increased offerings to students and faculty, and initiatives to improve Retail’s sales trends,” said Michael P. Huseby, Chief Executive Officer of Barnes & Noble.

“Our fiscal 2014 results and solid financial position at year-end reflect the positive impact of those actions. We believe we are now in a better position to begin in earnest those steps necessary to accomplish a separation of NOOK Media and Barnes & Noble Retail. We have determined that these businesses will have the best chance of optimizing shareholder value if they are capitalized and operated separately. We fully expect that our Retail and NOOK Media businesses will continue to have long-term, successful business relationships with each other after separation.”

Its previous CEO, William Lynch, who had made a bid to see the Nook e-reader through, has resigned and now the organization is under Huseby’s command. The losses the firm has seen are somewhat of a shock since what had been hoped for never materialized. 

It seems that there are not many readers left in the world since most of the libraries are often seen to be empty. People have shifted from the textual to the visual as a source of inspiration.

Source: WSJ


You Might Also Like


Sponsored Update


More From the Web

Shopping Deals


<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.




blog comments powered by Disqus

Latest stories

Apple&#039;s first wearable will not ship until 2015
Apple's first wearable will not ship until 2015
If true, Apple, as it has always been, must be very confident about its timing. After all, it will be the company's new product from an entirely different category, and people will most likely be patient about it.
Jennifer Aniston tasted Jimmy Kimmel&#039;s Wife’s Breast Milk
Jennifer Aniston tasted Jimmy Kimmel's Wife’s Breast Milk
The Friends starlet, Jennifer Aniston shared some very personal matters with the press recently. They included tasting her male friend Jimmy Kimmel's wife’s breast milk! Jimmy Kimmel's
Gwyneth Paltrow facing Lawsuit
Gwyneth Paltrow facing Lawsuit
The famous actress and creator of a website named Goop, Gwyneth Paltrow, is facing a lawsuit by a man who claims she plagiarized his creative phrase. And she is also concerned about her ex-husband’s new relationships.
Ashlee Simpson celebrates Evan Ross Birthday Bash
Ashlee Simpson celebrates Evan Ross Birthday Bash
The pop starlet, Ashlee Simpson celebrated her fiance’s birthday bash and also wore a special hat later on in the style of Mary Poppins.

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.